Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of 629 billion roubles ($6.9 billion) in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market. The results highlight the dramatic decline of Gazprom, which since the collapse of the Soviet Union has been one of Russia's most powerful companies, often used as a leverage to solve disputes with its neighbours, such as Ukraine and Moldova. Analysts had expected net income of 447 billion roubles, according to Interfax news agency. According to Reuters analysis, it was Gazprom's first annual loss since the late 1990s/early 2000s, when Alexei Miller, an ally of President Vladimir Putin, took over the company in 2001.